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Financial Statements

Avis Schedules Q2 Investors Call

A conference call for institutional investors to discuss these results and its full year outlook will be held Aug. 8 at 8:30 a.m. EST.

Hertz Completes Financial Restatements

The restatements reduced Hertz’s profits by a cumulative $128 million for years 2011, 2012 and 2013, or nearly 20% of previously stated profits. Richard Broome resigns.

Hertz Fails to File Annual Report by Extension Date

As a result of Hertz Global Holding Inc.’s ongoing review and investigation of internal financial records for fiscal years 2011, 2012 and 2013, Hertz was unable to file the Securities and Exchange Commission’s 2014 Form 10-K by the extended due date of March 17, 2015.

Hertz Broadens Earnings Restatements to Three Years

In addition to restating 2011 financial statements in June, the Audit Committee of the Hertz Board of Directors has found that the 2012 and 2013 annual and quarterly financial statements must also be restated and can no longer be used.

Hertz Accounting Practices Questioned

Hertz Global Holdings Inc.’s Audit Committee of the Board of Directors has found that the financial statements for 2011 can no longer be used and must be restated. In addition, Hertz needs to fix the 2012 and 2013 statements to reflect these errors.